MaxLinear (NYSE:MXL) Given New $26.00 Price Target at Susquehanna

MaxLinear (NYSE:MXL) had its price objective trimmed by Susquehanna from $30.00 to $26.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a positive rating on the semiconductor company’s stock.

Several other research analysts have also recently weighed in on the company. StockNews.com cut MaxLinear from a hold rating to a sell rating in a research note on Thursday, April 25th. Benchmark reduced their price objective on MaxLinear from $28.00 to $22.00 and set a buy rating for the company in a research report on Thursday. Craig Hallum raised MaxLinear from a hold rating to a buy rating and raised their target price for the stock from $20.00 to $38.00 in a research report on Wednesday, July 17th. Northland Securities raised shares of MaxLinear from a market perform rating to an outperform rating and set a $30.00 price target for the company in a research report on Thursday, April 4th. Finally, Needham & Company LLC downgraded shares of MaxLinear from a buy rating to a hold rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $24.70.

MaxLinear Stock Down 8.9 %

MXL stock opened at $12.78 on Thursday. MaxLinear has a 1-year low of $12.48 and a 1-year high of $26.59. The business has a fifty day moving average price of $19.91 and a 200-day moving average price of $20.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.09 and a quick ratio of 1.56. The stock has a market capitalization of $1.06 billion, a P/E ratio of -6.76 and a beta of 1.84.

MaxLinear (NYSE:MXL) last posted its quarterly earnings results on Wednesday, July 24th. The semiconductor company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.06). MaxLinear had a negative return on equity of 12.39% and a negative net margin of 42.38%. The business had revenue of $92.00 million during the quarter, compared to analysts’ expectations of $100.25 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was down 50.0% compared to the same quarter last year. Equities analysts forecast that MaxLinear will post -1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MaxLinear

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of MaxLinear by 5.8% during the 1st quarter. Vanguard Group Inc. now owns 12,253,823 shares of the semiconductor company’s stock valued at $228,779,000 after acquiring an additional 667,550 shares during the last quarter. Bank of New York Mellon Corp raised its stake in MaxLinear by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 2,535,449 shares of the semiconductor company’s stock valued at $51,064,000 after purchasing an additional 128,585 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MaxLinear by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,912,731 shares of the semiconductor company’s stock valued at $45,469,000 after purchasing an additional 137,698 shares in the last quarter. Jennison Associates LLC lifted its position in MaxLinear by 2.7% during the first quarter. Jennison Associates LLC now owns 533,416 shares of the semiconductor company’s stock valued at $9,959,000 after purchasing an additional 14,111 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of MaxLinear by 9.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 346,873 shares of the semiconductor company’s stock worth $6,476,000 after buying an additional 29,102 shares in the last quarter. Hedge funds and other institutional investors own 90.79% of the company’s stock.

MaxLinear Company Profile

MaxLinear, Inc provides communications systems-on-chip solutions worldwide. Its products integrate various portions of a high-speed communication system, including radio frequency, high-performance analog, mixed-signal, digital signal processing, security engines, data compression and networking layers, and power management.